Mutual of America Capital Management LLC Sells 1,584 Shares of Fortive Co. (NYSE:FTV)

Mutual of America Capital Management LLC reduced its stake in Fortive Co. (NYSE:FTV) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,411 shares of the technology company’s stock after selling 1,584 shares during the period. Mutual of America Capital Management LLC’s holdings in Fortive were worth $3,291,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FTV. Janus Henderson Group PLC increased its holdings in shares of Fortive by 47.1% in the first quarter. Janus Henderson Group PLC now owns 6,244,117 shares of the technology company’s stock worth $537,119,000 after purchasing an additional 1,999,792 shares during the last quarter. Boston Partners raised its holdings in shares of Fortive by 19.3% during the 1st quarter. Boston Partners now owns 6,463,772 shares of the technology company’s stock worth $554,253,000 after acquiring an additional 1,045,245 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of Fortive during the 4th quarter valued at approximately $45,557,000. Nordea Investment Management AB increased its position in Fortive by 70.1% in the first quarter. Nordea Investment Management AB now owns 896,550 shares of the technology company’s stock worth $77,058,000 after purchasing an additional 369,351 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Fortive by 27.4% during the second quarter. Panagora Asset Management Inc. now owns 1,269,103 shares of the technology company’s stock valued at $94,041,000 after purchasing an additional 273,168 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Fortive Stock Down 0.2 %

Shares of NYSE FTV opened at $76.18 on Tuesday. Fortive Co. has a 52-week low of $63.05 and a 52-week high of $87.10. The firm has a market capitalization of $26.82 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 2.11 and a beta of 1.11. The stock has a 50 day moving average price of $72.43 and a 200 day moving average price of $76.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.95 and a current ratio of 1.23.

Fortive (NYSE:FTV) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Fortive had a return on equity of 12.32% and a net margin of 14.39%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Sell-side analysts expect that Fortive Co. will post 3.82 earnings per share for the current year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.42%. Fortive’s dividend payout ratio is presently 12.65%.

Wall Street Analyst Weigh In

FTV has been the topic of a number of research reports. TD Cowen upgraded shares of Fortive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a report on Monday, July 8th. Wells Fargo & Company lowered their price objective on Fortive from $84.00 to $75.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Wolfe Research downgraded Fortive from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Raymond James upgraded Fortive from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Thursday, September 5th. Finally, StockNews.com upgraded shares of Fortive from a “hold” rating to a “buy” rating in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.23.

Insider Activity at Fortive

In other Fortive news, CFO Charles E. Mclaughlin sold 6,864 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the sale, the chief financial officer now owns 73,391 shares of the company’s stock, valued at approximately $5,433,135.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Jonathan L. Schwarz sold 14,223 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $73.80, for a total transaction of $1,049,657.40. Following the completion of the sale, the senior vice president now owns 68,161 shares of the company’s stock, valued at $5,030,281.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Charles E. Mclaughlin sold 6,864 shares of Fortive stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.03, for a total transaction of $508,141.92. Following the completion of the transaction, the chief financial officer now directly owns 73,391 shares in the company, valued at $5,433,135.73. The disclosure for this sale can be found here. 1.01% of the stock is currently owned by corporate insiders.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.